Top Companies in Nitric Acid Market | Nitric Acid Industry Opportunities, Trends, Challenges by Vantage Market Research

The Global Nitric Acid Market was valued at USD 28.9 Billion in 2021 and is expected to reach a value of USD 32.7 Billion by 2028 and is anticipated to grow to exhibit a CAGR of 2.1% over the forecast period.

Nitric acid is a powerful oxidizing agent used in various industrial applications such as fertilizers, explosives, and chemical intermediates. The demand for nitric acid is expected to be driven by the increasing demand for fertilizers, especially in the Asia-Pacific region, due to the rising population. The increasing demand for explosives for defense and mining activities is also expected to drive market growth.

Nitric acid has also found its use in the automotive industry as it is used for the rust-proofing of steel components, which is used in the production of vehicles. The increasing demand for cars and other vehicles is expected to drive the demand for nitric acid. The market growth is also expected to be driven by the increasing use of nitric acid in producing pharmaceuticals and other chemicals.

However, the market growth is likely to be hindered by the increasingly stringent government regulations regarding nitric acid, as it is a hazardous substance. The high cost of production is also expected to pose a challenge to the market growth.

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Let’s Look at the Top Companies That are Taking the Nitric Acid Market by Storm

1. DuPont (United States):

DuPont is a global science-based products and services provider, engaged in the production of nitric acid, among other products. The company is engaged in the production of a range of nitric acid grades, ranging from concentrated nitric acid to dilute nitric acid, and offers an extensive portfolio of nitric acid products. The company also offers specialty nitric acid products, such as nitric acid with sulfuric acid, nitric acid with hydrochloric acid, and nitric acid with acetic acid.

2. BASF SE (Germany):

BASF SE is a Germany-based chemical company with a presence in the production of nitric acid. The company produces a range of nitric acid grades, such as concentrated and dilute nitric acid, as well as specialty nitric acid products. The company also offers technical services, such as process optimization and troubleshooting, to customers.

3. Solvay (Belgium):

Solvay is a Belgium-based chemicals company engaged in the production of nitric acid. The company produces a range of nitric acid grades, such as concentrated and dilute nitric acid, as well as specialty nitric acid products. The company also offers technical services, such as process optimization and troubleshooting, to customers.

4. AkzoNobel (Netherlands):

AkzoNobel is a Netherlands-based company engaged in the production of nitric acid. The company produces a range of nitric acid grades, such as concentrated and dilute nitric acid. The company also offers specialty nitric acid products, such as nitric acid with sulfuric acid, nitric acid with hydrochloric acid, and nitric acid with acetic acid.

5. Evonik Industries (Germany):

Evonik Industries is a Germany-based chemical company engaged in the production of nitric acid. The company produces a range of nitric acid grades, such as concentrated and dilute nitric acid. The company also offers technical services, such as process optimization and troubleshooting, to customers.

6. Linde AG (Germany):

Linde AG is a Germany-based chemical company engaged in the production of nitric acid. The company produces a range of nitric acid grades, such as concentrated and dilute nitric acid. The company also offers specialty nitric acid products, such as nitric acid with sulfuric acid, nitric acid with hydrochloric acid, and nitric acid with acetic acid.

7. INEOS (United Kingdom):

INEOS is a United Kingdom-based chemical company engaged in the production of nitric acid. The company produces a range of nitric acid grades, such as concentrated and dilute nitric acid. The company also offers specialty nitric acid products, such as nitric acid with sulfuric acid, nitric acid with hydrochloric acid, and nitric acid with acetic acid.

8. Olin Corporation (United States):

Olin Corporation is a United States-based chemical company engaged in the production of nitric acid. The company produces a range of nitric acid grades, such as concentrated and dilute nitric acid. The company also offers specialty nitric acid products, such as nitric acid with sulfuric acid, nitric acid with hydrochloric acid, and nitric acid with acetic acid.

9. Showa Denko K.K. (Japan):

Showa Denko K.K. is a Japan-based chemical company engaged in the production of nitric acid. The company produces a range of nitric acid grades, such as concentrated and dilute nitric acid. The company also offers specialty nitric acid products, such as nitric acid with sulfuric acid, nitric acid with hydrochloric acid, and nitric acid with acetic acid.

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